The late enrollment penalty amount usually is 1% of the country wide base beneficiary top rate also referred to as the base beneficiary premium for each full, uncovered month that the man or woman did not have Medicare drug coverage or other creditable insurance.
The late enrollment penalty is an amount this is permanently brought on your Medicare drug insurance (part D) premium. you could owe a past due enrollment penalty if at any time after your preliminary Enrollment period is over, there is a length of 63 or extra days in a row when you don't have Medicare drug coverage or other.
The reason of the LEP is to encourage Medicare beneficiaries to hold ok drug coverage. The penalty is 1% of the country wide base beneficiary premium for each month you did now not have part D or positive different types of drug insurance even as eligible for element D.
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